Selling Standard Life shares

illuminate

Currently wanting to offload my de-mutualisation shares and have opened an account with Hoodless Brennan as suggested by many on here.

However investigation reveals that the shares are being held by another broker (immediately following their issue in my name) called Computershare.

The charge if the existing holders sell my shares will be something approaching £100. Compared to HB @ £7.

Can I transfer them for free or is there a fee which will cancel out most of the benefit of selling through HB.

I have emailed Computershare but they have only promised a 7 day response. Need to get things moving quicker than that.

Experiences ?

ReportInvestor

I believe that you can get a certificate from Computershare. This would be cost effective on the numbers you quote.

I assume the Computershare £100 = 0.5% internet dealing costs rather than 1% phone costs?

Congratulations on doing so well to date .

The charge is £12, [EDIT - now £15] according to the Standard Life website, & here are the Computershare contact details:

United Kingdom
The shareholder helpline:0870 703 6254 [You could be a while on this ]
e-mail: web.queries@computershare.co.uk [not sure how effective this will be - as you've found].
website: https://www.computershare.com [There don't seem to be any clear ways forward on this.]
Post: Computershare Investor Services PLC, PO Box 2656, The Pavilions, Bristol, BS3 9BG

I'd personally use registered post and send them a cheque for £15 as I suspect this will be quickest.

illuminate

RI.... yep..... you got it spot on.

Got a reply from computershare after only 4 hours

£15 stock transfer fee using the Crest form.

Still rather pay £22 (£15+£7) than £100.

(Will I actually pay the £7, as transactions are shown as FOC for the first month with HB ?)

gt94sss2

illuminate wrote:

Can I transfer them for free or is there a fee which will cancel out most of the benefit of selling through HB.

I have emailed Computershare but they have only promised a 7 day response. Need to get things moving quicker than that.

Experiences ?

As ReportInvestor says there is a fee payable to Computershare and it will also take some time (I imagine a couple of weeks) for them to send you a share certificate, which may be an issue if you need to sell them very quickly.

However, if you can wait for a certificate, instead of selling them via HB - have you considered selling them via Selftrade instead?

The reason I suggest this is that even though HB charge no commission for trades in the first month and Selftrade charge a flat rate of £12.50, Selftrade will give you £50 if you are referred by an existing customer (who also gets £50).

As such, instead of selling for free, you would make an additional £37.50 on the deal!.

In addition, Selftrade will refund the £15 charge that Computershare impose (though Computershare charge £12 if requesting a share certificate which you can do, instead of £15 which is for transferring direct into another nominee)

Of course, I'm happy to refer you, if you wish

Regards
Sunil

illuminate

So lets get this right Sunil......

They'll give me £50 and refund the £15 transfer fee if I use them after referral from yourself ? But charge me £12.50 for the transaction ?

Thats £37.50 for nowt or have I got that wrong ?

gt94sss2

illuminate wrote:

So lets get this right Sunil......

They'll give me £50 and refund the £15 transfer fee if I use them after referral from yourself ? But charge me £12.50 for the transaction ?

Thats £37.50 for nowt or have I got that wrong ?

Yes, thats right.

I'Il send you a PM with some further details.

Regards
Sunil

plumb1_2

illuminate wrote:

So lets get this right Sunil......

They'll give me £50 and refund the £15 transfer fee if I use them after referral from yourself ? But charge me £12.50 for the transaction ?

Thats £37.50 for nowt or have I got that wrong ?

Yes , free cash, see more here http://forums.moneysavingexpert.com/showthread.html?t=91587